BlackRock, Citadel Back Texas Stock Exchange in Challenge to NYSE
- TXSE is targeting first trades in 2025, first listing in 2026
- Venture faces tough competition from big established players
This article is for subscribers only.
BlackRock Inc., Citadel Securities and other investors are backing an upstart Texas stock market, laying down a challenge to the New York Stock Exchange and Nasdaq Inc. and signaling a potential boost for a state trying to grab more of the financial services industry.
The Texas Stock Exchange has raised $120 million and plans to file registration documents with the US Securities and Exchange Commission, according to a LinkedIn post by James Lee, the exchange’s chief executive officer.